Kraematon Investment Advisors Inc. Sells 7,742 Shares of Chord Energy Corporation $CHRD

Key Points

• Kraematon Investment Advisors cut its stake in Chord Energy by 31.7%, selling 7,742 shares and leaving 16,691 shares worth about $1.547 million, with Chord representing roughly 1.2% of Kraematon’s holdings; institutional investors own about 97.76% of CHRD.
• Company insiders have been net sellers recently: CAO Lara J. Kroll sold 5,000 shares and Director Douglas E. Brooks sold 2,126 shares, and insiders have disposed of 23,927 shares valued at about $2.91 million in the past 90 days (insiders now own ~0.70% of stock).
• Chord pays a quarterly dividend of $1.30 ($5.20 annual, ~3.7% yield) despite a very high payout ratio (825.4%), and analysts maintain a consensus rating of "Moderate Buy" with an average target of $141.83 while the stock trades around $142.19.

Kraematon Investment Advisors Inc. decreased its stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,691 shares of the company's stock after selling 7,742 shares during the period. Chord Energy comprises about 1.2% of Kraematon Investment Advisors Inc.'s holdings, making the stock its 27th largest holding. Kraematon Investment Advisors Inc.'s holdings in Chord Energy were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHRD. WealthCollab LLC lifted its stake in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after purchasing an additional 145 shares during the last quarter. Quent Capital LLC bought a new position in Chord Energy in the 3rd quarter valued at approximately $32,000. Pilgrim Partners Asia Pte Ltd bought a new position in Chord Energy in the 3rd quarter valued at approximately $46,000. Triumph Capital Management bought a new position in Chord Energy in the 3rd quarter valued at approximately $56,000. Finally, Larson Financial Group LLC raised its position in Chord Energy by 43.0% in the third quarter. Larson Financial Group LLC now owns 791 shares of the company's stock valued at $79,000 after purchasing an additional 238 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Insider Buying and Selling at Chord Energy

In related news, CAO Lara J. Kroll sold 5,000 shares of the company's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the completion of the sale, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Douglas E. Brooks sold 2,126 shares of the company's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the sale, the director owned 25,181 shares of the company's stock, valued at $3,028,770.68. This trade represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,927 shares of company stock valued at $2,912,028. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

CHRD has been the subject of several research reports. Jefferies Financial Group set a $99.00 target price on Chord Energy in a research report on Saturday, January 17th. Zacks Research upgraded Chord Energy from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Truist Financial initiated coverage on Chord Energy in a research report on Tuesday, March 24th. They issued a "buy" rating and a $169.00 target price for the company. Piper Sandler increased their target price on Chord Energy from $158.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. Finally, Pickering Energy Partners downgraded Chord Energy from an "outperform" rating to a "neutral" rating in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of "Moderate Buy" and an average target price of $141.83.

Chord Energy Price Performance

CHRD stock opened at $142.19 on Tuesday. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $148.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The company has a market capitalization of $8.06 billion, a P/E ratio of 225.70 and a beta of 0.66. The company has a fifty day moving average price of $116.58 and a 200-day moving average price of $101.62.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $3.49 earnings per share. The firm's revenue was down 19.6% compared to the same quarter last year. As a group, equities analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 3.7%. Chord Energy's payout ratio is presently 825.40%.

About Chord Energy

Chord Energy Corporation NASDAQ: CHRD, formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.

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